Topic outline

    • Markets Around Us

      Q24. Is there equality in the market? Justify your answer with the help of suitable example.

      Ans. Shop owners in a weekly market and those in a shopping complex are very different people. One is a small trader with little money to run the shop whereas the other is able to spend a lot of money to set up the shop. They also earn unequal amounts. The weekly market trader earns little compared to the profit of a regular shop owner in a shopping complex. Similarly, buyers are differently placed. There are many who are not able to afford the cheapest of goods while others are busy shopping in malls. Thus, whether we can be buyers or sellers in these different markets depends, among other things, on the money that we have.


      Q25. Write about Aftab - The wholesaler in the city.

      Ans. Aftab is one of the wholesale traders who purchases in bulk. His business starts around 2 o’clock in the morning when vegetables reach the market. This is the time when the vegetable market or mandi starts buzzing with activity. The vegetables come in trucks, matadors, tractor trolleys from farms both near and far. Soon the process of auctions begins. Aftab participates in this auction and decides what he will buy. He has a shop in the market where he stores the vegetables that he has bought. From here he sells to hawkers and shopkeepers who start coming to the market around six in the morning. They have to organise their purchases so that they can start their shop for the day around ten in the morning.

      Q26. ‘All persons have equal rights to visit any shop in a marketplace.’ Do you think this is true of shops with expensive products? Explain with examples.

      Ans. ‘All persons have equal rights to visit any shop in a marketplace.’ Yes, this is true of shops with expensive products. As a customer we are free to enter any shop and explore different products even if we do not have enough money to buy it.

      We can understand this more clearly through an example.

      Kavita and Sujata went to Anzal Mall. They entered a shop that was selling branded ready-made clothes. They looked at some of the dresses and then looked at the price tag. None of them was less than Rs. 2000, almost five times the weekly market price. The price did not suit their pockets. Hence they went to another shop.


      Q27. Why do people go to a weekly market? Give three reasons.

      Ans. People go to a weekly market because of the following reasons:

                             i.        Many things in weekly markets are available at cheaper rates.

                            ii.        Weekly markets also have a large number of shops selling the same goods which means there is competition among them. If some trader were to charge a high price, people would move to another shop where the same thing may be available more cheaply or where the buyer can bargain and bring the price down.

                            iii.        Most things we need are available at one place. Whether we want vegetables, groceries or cloth items, utensils – all of them can be found here. We do not have to go to different areas to buy different things.

      Q28. In what ways is a hawker different from a shop owner?



      Q29. Compare and contrast a weekly market and a shopping complex on the following:



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